Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart" or the "Company") and its
co-venturers, Midwestern Oil and Gas Company Plc. (Operator of the Umusadege
field) ("Midwestern") and SunTrust Oil Company Limited ("Suntrust") (together
"the Co-venturers") are pleased to announce the signing of an agreement to
establish a second export pipeline for Umusadege field oil production. 


Mart and its Co-venturers have been evaluating options to construct a new export
pipeline to transport Umusadege field oil production. Upon completion, a new
export pipeline is expected to expand transportation capacity and mitigate the
risk of reliance upon a single export pipeline for Umusadege oil exports. As a
first step toward this objective, Mart and its Co-venturers have entered into a
Crude Oil Purchase Agreement (the "COPA") with Shell Western Supply and Trading
Company ("Shell Western") pursuant to which Mart and its Co-venturers agree to
sell and Shell Western agrees to purchase future Umusadege oil production. Mart
and its Co-venturers anticipate that Umusadege oil will also continue to be
exported under its existing Crude Handling Agreement with Nigerian Agip Oil
Company. 


The obligations of the parties under the COPA are subject to, among other
things, the execution of an acceptable Crude Oil Handling Agreement between
Mart, the Co-venturers and Shell Petroleum Development Company of Nigeria Ltd
("SPDC") and the construction and commissioning of the proposed 54km Ogini
Pipeline to connect the Umusadege field to SPDC's export pipeline at Eriemu,
Nigeria. The COPA has an initial five year term and may be extended by mutual
agreement. Under the contract, the Umusadege crude oil is expected to be sold at
a premium to Brent oil price.


Midwestern is in the early stages of engineering and design of the 54km Ogini
Pipeline, which will have a design capacity to accommodate both existing and
future expanded production levels from the Umusadege field. The Ogini Pipeline,
which is currently anticipated to take approximately one year to construct, will
be owned and operated by a pipeline operating company owned in part by Mart and
the Co-venturers. The cost of the Ogini Pipeline is expected to be funded
through a combination of equity contribution by the pipeline owners and third
party project financing. 


Wade Cherwayko, CEO of Mart stated: "The signing of the COPA with Shell Western
is an important first step in Mart and its Co-venturer's pursuit to secure an
alternative export pipeline for Umusadege oil and to mitigate the export risks
associated with current reliance upon a single export pipeline. The COPA, which
sets out the terms of future oil sales from the Umusadege field, will enable
Mart and the Co-venturers to move ahead with plans for the financing, design,
construction, ownership and operation of the Ogini Pipeline. In addition to
mitigating the export risk, the Ogini Pipeline will also provide additional
export capacity which is needed given the recent success of the UMU-9 well and
anticipated future production levels from the Umusadege field."


Additional information regarding Mart is available on the Company's website at
www.martresources.com and under the Company's profile on SEDAR at www.sedar.com.


INVESTOR RELATIONS:

Investors are also welcome to contact one of the following investor relation's
specialists for all corporate updates and investor inquiries:




FronTier Consulting Ltd.                                                    
Mart toll free # 1-888-875-7485                                             
Attn:  Sam Grier                                                            
       Dan Glass                                                            
Email: inquiries@martresources.com                                          



Forward Looking Statements and Risks

Certain statements contained in this press release constitute "forward-looking
statements" as such term is used in applicable Canadian and US securities laws.
Any statements that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions or future
events or are not statements of historical fact and should be viewed as
"forward-looking statements". These statements relate to analyses and other
information that are based upon forecasts of future results, estimates of
amounts not yet determinable and assumptions of management. Such forward looking
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of the Company
to be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. 


In particular, there is no assurance that construction and completion of the
Ogini Pipeline referenced herein will be completed within the timeframes
referenced herein or at all or that Mart, its Co-venturers will be able to enter
into an acceptable Crude Oil Handling Agreement with SPDC. There is no assurance
that the design capacity of the Ogini Pipeline will be adequate for future
levels of Umusadege field oil production. There is no assurance that third party
project financing for the Ogini Pipeline will be available on acceptable terms
or that some or all of the Co-venturers will have sufficient capital resources
necessary to fund the construction of the Ogini Pipeline. Finally, there is no
assurance that Mart and its Co-venturer's will be able to continue to export oil
from the Umusadege field pursuant to existing contracts with NAOC. Any new
export pipeline will face risks generally associated with pipeline operations in
Nigeria including the risk of pipeline disruption. 


There can be no assurance that such forward-looking statements will prove to be
accurate as actual results and future events could vary or differ materially
from those anticipated in such statements. Accordingly, readers should no place
undue reliance on forward-looking statements contained in this news release. The
forward-looking statements contained herein are expressly qualified by this
cautionary statement.


Forward-looking statements are made based on management's beliefs, estimates and
opinions on the date the statements are made and the Company undertakes no
obligation to update forward-looking statements and if these beliefs, estimates
and opinions or other circumstances should change, except as required by
applicable law.
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